The fintech industry has urged Finance Minister Nirmala Sitharaman to liberalise the tax regime for financial sector startups in the forthcoming Budget.
Gaurav Jalan, CEO and Founder – mPokket stated that all startups, including fintech firms, extensively use stock option to attract and retain talent.
“Tax collection at the time of sale of such shares, would resolve cash flow issues of employees and help fintechs continue to attract and retain talent,” suggested Jalan.
"Currently the onlending by banks to NBFCs is allowed up to an overall limit of five per cent of individual bank’s total priority lending.If this increased to 7 per cent, it will boost the economy," stated Shruti Aggarwal, Co-founder, Stashfin.
(With inputs from PTI)
